Any broker recommendations?

PenguinJim

bowlhead99 wrote: »

Based on the experiences of many here, for a no frills execution-only broker for dealing in UK shares, without inactivity fees, you can't really beat http://www.x-o.co.uk on price.

As long as your lifetime trades (buy PLUS sell) are under 27. On the 27th trade IWEB overtake them, and are then £0.95 cheaper per trade for the rest of the lifetime of the account. So X-O are unbeatable as long as you buy no more than 13 times. Both are bare-bones services.

However, it's worth noting that X-O do not do dividend reinvestment, which may be important for some people. (Of course, you could just let the dividends build up until reinvesting them manually isn't hit too hard by the £5.95 charge)

Edit: Funds go immediately into IWEB, in the time it takes for the page to refresh when enacting the transfer.

marvin

Ifts wrote: »

They say within the hour but its pretty much instant, last time I credited my account and immediately it was there showing as my cash balance to trade with.

Another test and apart from taking quite a while to fill in all the details of the card and my address etc on the form to get money in 15 minutes later it is still not present in my account.

As a trading platform this is way way too slow if I was tracking a share with a volatile price I could have lost or gained the fee for the Halifax in the time it takes them to administer the money to the account.

Cheap account if you keep money in it all the time, but then losing interest on any money not invested, or if used as a sales only account for paper shares, this is my use for it. The paper shares when received are sent to them they are held in this account until I wish to dispose of them, if this ever occurs.

It has taken 5 minutes to write this post and the money is still not present.

It is also slow at getting money back out you have to email them and request it. Whilst Halifax takes 3 days to get it too you at least the request is automated.

And I agree for some the lack of dividend reinvestment may be an issue, not for me as I do mine a different way.

But for speed, based on my experience, X-O is no good.

bassmentjaxx101

I'm a Selftrade customer about to move over to Equiniti. Selftrade have been great, but not sure what will happen now that they've been acquired.

I've heard good things about HL too.